Publication | BRG

FinCEN's National AML/CFT Priorities: Emerging Risks and Evolving Responses

Christopher Sidler, Walter Mix, Conor Stanhope, and Valtteri Tamminen

July 20, 2021

The passage of the Anti-Money Laundering Act of 2020 greatly advanced the anti-money laundering/combating the financing of terrorism (AML/CFT) regime in the United States. On June 30, the six-month anniversary of the act’s implementation, US Treasury’s Financial Crimes Enforcement Network (FinCEN) released its first-ever National AML/CFT Priorities.

FinCEN laid out eight categories that signal its priorities for the next four years:

  • Corruption
  • Cybercrime and virtual currencies
  • Foreign and domestic terrorist financing
  • Fraud
  • Transnational criminal organization activity
  • Drug trafficking organization activity
  • Human trafficking and human smuggling
  • Proliferation financing

Learn key takeaways and recommended steps to incorporate into a risk-based Bank Secrecy Act/AML compliance program.

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Walter J. Mix III

Managing Director

Los Angeles, Downtown, New York